Elevance Health, Inc. ELV is set to report its third-quarter 2026 results on Oct. 21, 2026, before the opening bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at $4.66 per shareon revenues of $48.60 billion.
The third-quarter earnings estimate witnessed one downward revision and no upward revisions over the past 60 days. The bottom-line projection indicates a year-over-year decline of 22.7%. Also, the Zacks Consensus Estimate for quarterly revenues implies a year-over-year decrease of 3%.
For 2026, the Zacks Consensus Estimate for Elevance’s revenues is pegged at $195.4 billion, implying a decline of 1.1% year over year. The consensus mark for 2026 EPS is pegged at $27.22, indicating a 10.1% year-over-year decrease.
Elevance’s earnings beat the consensus estimate in each of the trailing four quarters, with the average surprise being 16.6%. This is depicted in the figure below.
Elevance Health Price and EPS Surprise
Elevance Health, Inc. price-eps-surprise | Elevance Health, Inc. Quote
Q3 Earnings Whispers for Elevance
Our proven model does not conclusively predict an earnings beat for the company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here.
ELV currently has an Earnings ESP of 0.00% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
What’s Shaping Elevance’s Q3 Results?
The Zacks Consensus Estimate for product revenues indicates 5.3% growth from the year-ago period’s $6.16 billion. However, the consensus estimate for premiums indicates a 4.9% decrease from the year-ago period.
The consensus mark for Commercial Individual membership implies a 17.3% fall from a year ago, while our model estimate indicates an 18.1% decline. Also, declining memberships in Medicaid (-6.8%) are likely to have kept third-quarter performance in check. However, the consensus estimate for Commercial Fee-based memberships indicates 1.7% year-over-year growth.
Meanwhile, the Zacks Consensus Estimate for Carelon brand’s operating income for the third quarter indicates a 0.2% year-over-year decrease. The consensus estimate for the Health Benefits segment’s operating income for the third quarter indicates a 23.9% year-over-year plunge, making an earnings beat uncertain.
The Zacks Consensus Estimate for the benefit expense ratio is pegged at 91.4, higher than the year-ago level of 91.3, which could further weigh on profitability during the quarter. Nevertheless, our model estimate for total expenses indicates a 5.5% year-over-year decline, which is likely to have provided some respite.
Stocks That Warrant a Look
While an earnings beat looks uncertain for Elevance, here are some companies from the broader Medical space that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this time around:
Aveanna Healthcare Holdings Inc. AVAH has an Earnings ESP of +3.28% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Aveanna Healthcare’s bottom line for the to-be-reported quarter of 20 cents indicates 33.3% year-over-year growth. It has witnessed one upward revision against no downward movement over the past 60 days. The consensus mark for revenues predicts a 9.9% increase from a year ago.
CVS Health Corporation CVS has an Earnings ESP of +0.79% and a Zacks Rank of 3.
The Zacks Consensus Estimate for CVS Health’s bottom line for the to-be-reported quarter indicates a 1.3% increase from a year ago. The company’s earnings beat estimates in each of the trailing four quarters, with an average surprise of 20.5%. The consensus estimate for CVS’ revenues is pegged at $105.04 billion, signaling a 2.1% increase.
Acadia Healthcare Company, Inc. ACHC has an Earnings ESP of +4.84% and a Zacks Rank of 3.
The Zacks Consensus Estimate for Acadia Healthcare’s bottom line for the to-be-reported quarter is pegged at 46 cents per share, which remained stable over the past week. Its earnings beat estimates in each of the past four quarters, with an average surprise of 47%. ACHC’s revenues for the to-be-reported quarter are pegged at $869.26 million, a 2.1% increase from the year-ago period.
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Elevance Health, Inc. (ELV): Free Stock Analysis Report
CVS Health Corporation (CVS): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).